Old Second Bancorp, Inc. (NASDAQ:OSBC) Given Average Recommendation of “Buy” by Analysts

Old Second Bancorp, Inc. (NASDAQ:OSBC) has been assigned an average rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.70.

OSBC has been the subject of a number of research reports. Stephens decreased their price objective on Old Second Bancorp from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price objective on Old Second Bancorp from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Piper Sandler reaffirmed an “overweight” rating and set a $24.50 target price (up previously from $22.00) on shares of Old Second Bancorp in a research note on Wednesday, July 2nd. DA Davidson raised their target price on shares of Old Second Bancorp from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of Old Second Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th.

Hedge Funds Weigh In On Old Second Bancorp

Several institutional investors and hedge funds have recently modified their holdings of OSBC. Quarry LP boosted its position in shares of Old Second Bancorp by 70.1% during the fourth quarter. Quarry LP now owns 2,363 shares of the financial services provider’s stock valued at $42,000 after buying an additional 974 shares during the last quarter. Strs Ohio purchased a new stake in shares of Old Second Bancorp during the first quarter valued at $88,000. GAMMA Investing LLC boosted its position in shares of Old Second Bancorp by 4,125.0% during the first quarter. GAMMA Investing LLC now owns 5,408 shares of the financial services provider’s stock valued at $90,000 after buying an additional 5,280 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Old Second Bancorp by 20.2% during the fourth quarter. Quantbot Technologies LP now owns 7,528 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,264 shares during the last quarter. Finally, Aquatic Capital Management LLC boosted its position in shares of Old Second Bancorp by 47.3% during the fourth quarter. Aquatic Capital Management LLC now owns 7,956 shares of the financial services provider’s stock valued at $141,000 after buying an additional 2,556 shares during the last quarter. 67.76% of the stock is currently owned by institutional investors.

Old Second Bancorp Price Performance

Shares of Old Second Bancorp stock opened at $17.61 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.12. The company has a market cap of $793.44 million, a PE ratio of 9.62 and a beta of 0.81. The business has a 50 day moving average of $17.57 and a 200 day moving average of $17.25. Old Second Bancorp has a 52 week low of $14.14 and a 52 week high of $19.46.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $63.58 million. Old Second Bancorp had a net margin of 24.38% and a return on equity of 12.73%. As a group, equities research analysts forecast that Old Second Bancorp will post 1.86 earnings per share for the current year.

Old Second Bancorp Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, August 4th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a dividend yield of 1.3%. Old Second Bancorp’s payout ratio is presently 13.11%.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc operates as the bank holding company for Old Second National Bank that provides community banking services. It offers demand, NOW, money market, savings, time deposit, individual retirement, and checking accounts, as well as certificates of deposit accounts. The company also provides commercial loans; lease financing receivables; commercial real estate loans; construction loans; residential real estate loans, such as residential first mortgage and second mortgage loans; home equity line of credit; consumer loans, including motor vehicle, home improvement, and signature loans; installment and agricultural loans; residential mortgages; and overdraft checking.